Smart wearable maker startup Huami files for $150 million IPO
Beijing-based startup Huami has filed for a $150 million IPO with the Securities and Exchange Commission. Huami is Xiaomi’s smart wearable partner. Launched in 2014, Huami is the #2 wearable device company in the world, ahead of Fitbit, with over 50 million units sold. Apple later overtook the company. Apple overtook the company back in November as the new world’s #1 wearable device company.
Huami is a biometric and activity data-driven company with significant expertise in smart wearable technology. The startup shipped 11.6 million units of smart wearable devices in the first nine months of 2017, according to the Frost & Sullivan Report. As of September 30, 2017, we had shipped a total of 45.3 million devices since our inception in 2013, quickly establishing our global market position and recognition.
The company has one of the largest biometric and activity databases in the global smart wearables industry. Its mobile apps, Mi Fit and Amazfit, work hand in hand with our smart wearable devices and provide users with a comprehensive view and analysis of their biometric and activity data. As of September 30, 2017, their mobile apps had 49.6 million registered users, from whom they collect over 10 dimensions of measurement that include heart rate, ECG, weight, body fat compositions, GPS running track, steps, sleeping duration, etc. With a wide range of biometric and activity data from a large number of users, we are well-positioned to develop new application scenarios for smart wearable technology and drive innovation.
Huami also has sole partner agreement with iaomi Corporation, or Xiaomi, a mobile Internet company and global consumer electronics brand, to design and manufacture Xiaomi-branded smart bands, watches (excluding children watches and quartz watches), scales and associated accessories, or Xiaomi Wearable Products. The strategic cooperation agreement with Xiaomi grants Huami the most-preferred-partner status globally to develop future Xiaomi wearable products and provides the company with significant business demand, allowing it to quickly commercially launch our products and ramp up our business.
Huami’s mission is to seamlessly connect biomechanical signals and daily activities with smart data services to promote healthy living and to make our lives easier. The product line of fashionable activity trackers and smartwatches under the Amazfit brand, including the Pace, Arc, Cor, Bip, Moonbeam and Equator, effortlessly track activity without sacrificing style. Huami is the exclusive provider of wearable technology for Xiaomi and maker of the Mi Band. Huami has raised $35 million from Sequoia Capital, Shunwei Capital Partners, Banyan Capital, Morningside Ventures and Xiaomi. The company is privately-held and headquartered in Beijing and and Mountain View, CA. Huami has raised a total of $35 million in funding since inception.